African Markets - Factors to watch on May 19

Reuters Staff

3 Min Read

NAIROBI, May 19 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Friday.
- - - - -
GLOBAL MARKETS
Asian stocks were mixed on Friday, while the dollar
surrendered some of the overnight gains it made on strong
economic data amid ongoing political turbulence around U.S.
President Donald Trump.
WORLD OIL PRICES
Oil futures rose on Friday to the highest in nearly a month
on growing optimism that big producing countries will extend
output cuts to curb a persistent glut in crude, with key
benchmarks heading for a second week of gains.
EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand fell nearly 3 percent against the dollar
on Thursday before recouping some lost ground as the
political turmoil in the United States triggered an investor
flight from riskier emerging currencies into safe-haven
assets.
KENYA MARKETS
The Kenyan shilling weakened slightly against the
dollar on Thursday driven by increased dollar demand from
food importers and was seen range-bound for the rest of the
session, traders said.
NIGERIA LOANS
Development Bank of Nigeria, a new state-backed lender, aims
to make up to 20,000 new loans to small firms within its
first year of operation as part of efforts to help unlock
credit to the recession-hit economy, its chief executive
Tony Okpanachi said.
NIGERIA CRUDE
Nigeria's state oil company is in the final stage of signing
$6 billion worth of deals to exchange more than 300,000
barrels per day (bpd) of crude oil for imported gasoline and
diesel, sources with direct knowledge of the process told
Reuters.
GHANA AID
The International Monetary Fund has suggested to Ghana's
government that it request an extension to a three-year $918
million aid programme due to end in April 2018, the Fund's
Ghana representative Natalia Koliadina said on Thursday.
ANGOLA OIL EXPLORATION
Angola's state oil company Sonangol has cancelled an auction
of oil exploration licences for eight blocks, blaming the
drop in oil prices since the bidding opened.
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